Angela Gazivoda pays $5.1M to Lemle & Wolff for two rentals in Fordham Heights

Angela Gazivoda paid $5.1 million to Lemle & Wolff Companies for two residential buildings at 2195 Walton Avenue and 2201 Walton Avenue in Fordham Heights, the Bronx in two separate transactions.

In the first transaction, Angela Gazivoda through the entity 2195 Walton LLC paid $3.1 million to Lemle & Wolff Companies through the entity Lemle Realty Corporation for the 42-unit residential elevator building (D1) at 2195 Walton Avenue in Fordham Heights, Bronx.
The deal closed on January 4, 2024 and was recorded on January 18, 2024. The property has 44,928 square feet of built space and 12,255 square feet of additional air rights for a total buildable of 57,190 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $70 and the price per buildable square foot is $55 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Lemle & Wolff Companies was Mark M. Altschul. The signatory for Angela Gazivoda was Angela Gazivoda. The contract date was October 4, 2023.

In the second transaction, Angela Gazivoda through the entity 2201 Walton LLC paid $1.9 million to Lemle & Wolff Companies through the entity Lemle Realty Corporation for the 27-unit residential walkup building (C1) at 2201 Walton Avenue in Fordham Heights, Bronx. The deal closed on January 4, 2024 and was recorded on January 18, 2024. The property has 24,534 square feet of built space and 10,043 square feet of additional air rights for a total buildable of 34,548 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $79 and the price per buildable square foot is $56 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.) The signatory for Lemle & Wolff Companies was Mark M. Altschul. The signatory for Angela Gazivoda was Angela Gazivoda. The contract date was October 4, 2023.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Angela Gazivoda purchased six properties in six transactions for a total of $24.7 million and has no record it sold any properties over the past 24 months.
The seller Lemle & Wolff Companies purchased four properties in one transactions for a total of $10.4 million and sold 13 properties in four transactions for a total of $19.9 million over the same time period. The former owners according to the Department of Housing Preservation and Development includes Joseph Zitolo, head officer and Andrew Kleiman, agent. The business entities are Lemle And Wolff Inc and Lemle Realty Corp.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $150 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of five of the 18 commercial properties representing 128,304 square feet of the 290,351 square feet. The largest owner is George Zoulis, followed by Sopher Group and then Michael Friedman.
On the tax block, there was one new building construction project filed totaling 42,339 square feet. It is a 50-unit, 42,339 square-foot residential (R-2) building submitted by Sabah Rajput with plans filed April 6, 2012 and permitted April 24, 2015.

The majority, or 32 percent of the 290,351 square feet of built space are elevator buildings, with specialty buildings next occupying 19 percent of the space.

The seller

The PincusCo database currently indicates that Lemle & Wolff Companies owned at least 12 commercial properties with 344 residential units in New York City with 342,923 square feet and a city-determined market value of $18.8 million. (Market value is typically about 50% of actual value.) The portfolio has $54.7 million in debt, borrowed from Bank of New York Mellon and NYC Housing Development Corporation. Within the portfolio, the bulk, or 52 percent of the 342,923 square feet of built space are walkup properties, with elevator properties next occupying 48 percent of the space. The bulk, or 95 percent of the built space, is in Bronx, with Manhattan next at 5 percent of the space.

The buyer

The PincusCo database currently indicates that Angela Gazivoda owned at least nine commercial properties with 394 residential units in New York City with 366,771 square feet and a city-determined market value of $15.6 million. (Market value is typically about 50% of actual value.) The portfolio has $14.8 million in debt, borrowed from Ridgewood Savings Bank and Peapack-Gladstone Bank. Within the portfolio, the bulk, or 63 percent of the 366,771 square feet of built space are elevator properties, with walkup properties next occupying 37 percent of the space. The bulk, or 94 percent of the built space, is in Bronx, with Manhattan next at 6 percent of the space.

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